If the Restrict Override option is displayed, it only seems to be applied to the first table. With it set to true, the SQL script generated to drop all the tables only has an ALTER statment that runs "DROP Restrict on DROP" on the first table. Any subsequent selected tables that may also be restricted does not have the ALTER applied to them.

From the list of tables, if multiple tables are selected, and the first table highlighted is not a restricted table, Toad will not recognize any subsequent tables as restricted, and it will not give the "Restrict Override" option in the drop window.

The option will only show on screen if the first table highlighted is a restricted table.

Resolution

WORKAROUND:

Only select one table to be dropped at a time, when working with restricted tables.